Vinyl Ester Market
PUBLISHED: 2024 ID: SMRC27647
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Vinyl Ester Market

Vinyl Ester Market Forecasts to 2030 - Global Analysis By Product (Bisphenol A Vinyl Esters, Novolac Vinyl Esters and Other Products), Form, Distribution Channel, Application, End User and By Geography

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4.7 (92 reviews)
Published: 2024 ID: SMRC27647

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Vinyl Ester Market is accounted for $1.04 billion in 2024 and is expected to reach $1.50 billion by 2030 growing at a CAGR of 6.4% during the forecast period. Vinyl ester is a thermosetting polymer formed by the reaction of unsaturated monomers, typically derived from the reaction of epoxy resins with unsaturated carboxylic acids. This versatile resin combines the properties of both epoxy and polyester resins, offering excellent chemical resistance, high strength, and durability. Vinyl ester is widely used in various applications, including marine construction, automotive parts, and corrosion-resistant coatings, making it a preferred choice in industries requiring robust and reliable materials.

Market Dynamics: 

Driver: 

Growing demand in construction

Growing demand in the construction for vinyl esters are increasingly used in various applications, including flooring, roofing, and composite materials, where their ability to withstand harsh environmental conditions is crucial. As urbanization and infrastructure development accelerate globally, the need for reliable and long-lasting construction materials drives adoption. Additionally, the trend towards sustainable building practices enhances the appeal of vinyl esters, further boosting their market presence in construction projects.

Restraint:

Health and environmental concerns

The release of volatile organic compounds (VOCs) during manufacturing and curing processes can pose health risks to workers and end-users. Additionally, increasing regulatory pressure aimed at reducing environmental impact leads to stricter compliance requirements, potentially raising production costs. These concerns prompt manufacturers to seek alternative materials that are perceived as safer and more sustainable, thereby limiting the growth and adoption of vinyl ester resins in various industries.

Opportunity:

Rising demand in renewable energy

Vinyl esters' excellent strength, durability, and corrosion resistance make them ideal for withstanding harsh environmental conditions, enhancing the performance and lifespan of renewable energy products. Additionally, government initiatives and investments in sustainable energy sources further drive the need for advanced materials. As the transition to clean energy accelerates, the demand for vinyl esters in this sector is expected to grow substantially.

Threat:

Alternatives in the market

The availability of alternative materials, such as epoxy and polyester resins for instance, exhibit excellent adhesion and chemical resistance, making them appealing for various applications. Additionally, advancements in polyester formulations have enhanced their performance, further attracting customers. This competition can lead to pricing pressures and reduced market share for vinyl esters, as manufacturers and end-users increasingly consider cost-effectiveness and performance when selecting materials for their applications, thereby hampering the growth of the market.

Covid-19 Impact

The COVID-19 pandemic had a mixed impact on the vinyl ester market. Initially, supply chain disruptions and production halts affected manufacturing, particularly in industries like construction and automotive. However, the demand for vinyl ester resins in the healthcare sector surged due to their use in medical equipment and protective gear. Additionally, the growing need for durable materials in various applications fostered a gradual recovery. Overall, while the pandemic posed challenges, it also highlighted the resilience and versatility of vinyl ester products in critical sectors.

The distributors segment is expected to be the largest during the forecast period

The distributors segment is estimated to have a lucrative growth, by ensuring efficient supply chain management and facilitating access to a broad range of customers across various industries. Distributors play a crucial role in promoting vinyl ester products, educating end-users about their benefits, and providing technical support for applications. Their established networks enable quicker delivery and responsiveness to market demands, fostering strong relationships with manufacturers and customers alike. Additionally, distributors help in expanding market reach, enabling manufacturers to tap into new geographic regions and sectors, thereby driving overall market growth. 

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the highest CAGR growth during the forecast period, due to enhance vehicle performance and fuel efficiency. Vinyl esters are favoured for their excellent mechanical properties and chemical resistance, making them ideal for components such as body panels, interiors, and composites in electric vehicles. The shift towards sustainable practices and the use of advanced materials in automotive manufacturing further boost market growth. Additionally, the automotive industry's focus on reducing emissions and enhancing safety features drives the adoption of vinyl esters and foster the growth of the market.

Region with largest share:

The Asia Pacific region is expected to hold the largest share of the market during the forecast period due to rapid industrialization and increasing demand across various sectors, including construction, automotive, and marine. Countries like China and India are significant contributors, with expanding infrastructure projects and rising manufacturing activities boosting the need for durable and corrosion-resistant materials. Additionally, the automotive industry's shift towards lightweight materials for fuel efficiency and performance is propelling the adoption of vinyl esters. The region's focus on sustainable practices and advanced manufacturing technologies further enhances the market's growth prospects in the coming years.

Region with highest CAGR:

The North America region is predicted to witness the lucrative growth rate throughout the forecast period, owing to robust demand across various industries, including construction, automotive, and aerospace. The region's focus on advanced manufacturing technologies and sustainable materials fosters innovation in vinyl ester applications, particularly in lightweight and high-performance composites. Additionally, the rising trend of renewable energy projects, such as wind and solar, further contributes to the demand for vinyl ester resins, solidifying North America's position as a vital market for this material.

Key players in the market

Some of the key players profiled in the Vinyl Ester Market include Ashland Global Holdings Inc., BASF SE, Hexion Inc., Polynt-Reichhold, Mitsubishi Chemical Corporation, Olin Corporation, The Dow Chemical Company, DSM Coating Resins, Cromex, Scott Bader Company Ltd., Kraton Corporation, AOC Aliancys, Evonik Industries AG, Huntsman Corporation, Allnex Belgium S.A., Sika AG, Gurit Holding AG, 3M Company, Momentive Performance Materials Inc. and Rohm and Haas Company.
 
Key Developments:

In October 2024, BASF made a strategic partnership with Aspen Aerogels to enhance its aerogel product offerings and expand its market reach. This partnership is set to drive innovation in aerogel technologies, particularly in high-performance insulation materials.

In April 2024, BASF successfully commissioned a pilot plant dedicated to producing SLENTITE®, a cutting-edge polyurethane-based aerogel insulation panel. This innovative product is designed to meet the increasing demand for efficient thermal insulation in construction, offering a unique combination of lightweight characteristics and mechanical strength.

Products Covered:
• Bisphenol A Vinyl Esters
• Novolac Vinyl Esters
• Other Products
          
Forms Covered:
• Liquid Vinyl Esters
• Solid Vinyl Esters
• Other Forms

Distribution Channels Covered:
• Direct Sales
• Distributors
• Online Sales
• Other Distribution Channels          

Applications Covered:
• Composites
• Coatings
• Adhesives and Sealants
• Unsaturated Polyester Resins
• Other Applications

End Users Covered:
• Construction
• Automotive
• Marine
• Aerospace
• Wind Energy
• Electrical & Electronics
• Consumer Goods
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary          
            
2 Preface           
 2.1 Abstract          
 2.2 Stake Holders         
 2.3 Research Scope         
 2.4 Research Methodology        
  2.4.1 Data Mining        
  2.4.2 Data Analysis        
  2.4.3 Data Validation        
  2.4.4 Research Approach        
 2.5 Research Sources         
  2.5.1 Primary Research Sources       
  2.5.2 Secondary Research Sources       
  2.5.3 Assumptions        
            
3 Market Trend Analysis         
 3.1 Introduction         
 3.2 Drivers          
 3.3 Restraints         
 3.4 Opportunities         
 3.5 Threats          
 3.6 Product Analysis         
 3.7 Application Analysis        
 3.8 End User Analysis         
 3.9 Emerging Markets         
 3.10 Impact of Covid-19         
            
4 Porters Five Force Analysis         
 4.1 Bargaining power of suppliers        
 4.2 Bargaining power of buyers        
 4.3 Threat of substitutes        
 4.4 Threat of new entrants        
 4.5 Competitive rivalry         
            
5 Global Vinyl Ester Market, By Product        
 5.1 Introduction         
 5.2 Bisphenol A Vinyl Esters        
 5.3 Novolac Vinyl Esters        
 5.4 Other Products         
            
6 Global Vinyl Ester Market, By Form        
 6.1 Introduction         
 6.2 Liquid Vinyl Esters         
 6.3 Solid Vinyl Esters         
 6.4 Other Forms         
            
7 Global Vinyl Ester Market, By Distribution Channel       
 7.1 Introduction         
 7.2 Direct Sales         
 7.3 Distributors         
 7.4 Online Sales         
 7.5 Other Distribution Channels        
            
8 Global Vinyl Ester Market, By Application  `     
 8.1 Introduction         
 8.2 Composites         
 8.3 Coatings          
 8.4 Adhesives and Sealants        
 8.5 Unsaturated Polyester Resins        
 8.6 Other Applications         
            
9 Global Vinyl Ester Market, By End User        
 9.1 Introduction         
 9.2 Construction         
 9.3 Automotive         
 9.4 Marine          
 9.5 Aerospace         
 9.6 Wind Energy         
 9.7 Electrical & Electronics        
 9.8 Consumer Goods         
 9.9 Other End Users         
            
10 Global Vinyl Ester Market, By Geography        
 10.1 Introduction         
 10.2 North America         
  10.2.1 US         
  10.2.2 Canada         
  10.2.3 Mexico         
 10.3 Europe          
  10.3.1 Germany         
  10.3.2 UK         
  10.3.3 Italy         
  10.3.4 France         
  10.3.5 Spain         
  10.3.6 Rest of Europe        
 10.4 Asia Pacific         
  10.4.1 Japan         
  10.4.2 China         
  10.4.3 India         
  10.4.4 Australia         
  10.4.5 New Zealand        
  10.4.6 South Korea        
  10.4.7 Rest of Asia Pacific        
 10.5 South America         
  10.5.1 Argentina        
  10.5.2 Brazil         
  10.5.3 Chile         
  10.5.4 Rest of South America       
 10.6 Middle East & Africa        
  10.6.1 Saudi Arabia        
  10.6.2 UAE         
  10.6.3 Qatar         
  10.6.4 South Africa        
  10.6.5 Rest of Middle East & Africa       
            
11 Key Developments          
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 11.2 Acquisitions & Mergers        
 11.3 New Product Launch        
 11.4 Expansions         
 11.5 Other Key Strategies        
            
12 Company Profiling          
 12.1 Ashland Global Holdings Inc.        
 12.2 BASF SE          
 12.3 Hexion Inc.         
 12.4 Polynt-Reichhold         
 12.5 Mitsubishi Chemical Corporation       
 12.6 Olin Corporation         
 12.7 The Dow Chemical Company        
 12.8 DSM Coating Resins         
 12.9 Cromex          
 12.10 Scott Bader Company Ltd.        
 12.11 Kraton Corporation         
 12.12 AOC Aliancys         
 12.13 Evonik Industries AG        
 12.14 Huntsman Corporation        
 12.15 Allnex Belgium S.A.         
 12.16 Sika AG          
 12.17 Gurit Holding AG         
 12.18 3M Company         
 12.19 Momentive Performance Materials Inc.       
 12.20 Rohm and Haas Company        
            
List of Tables           
1 Global Vinyl Ester Market Outlook, By Region (2022-2030) ($MN)     
2 Global Vinyl Ester Market Outlook, By Product (2022-2030) ($MN)     
3 Global Vinyl Ester Market Outlook, By Bisphenol A Vinyl Esters (2022-2030) ($MN)    
4 Global Vinyl Ester Market Outlook, By Novolac Vinyl Esters (2022-2030) ($MN)    
5 Global Vinyl Ester Market Outlook, By Other Products (2022-2030) ($MN)     
6 Global Vinyl Ester Market Outlook, By Form (2022-2030) ($MN)     
7 Global Vinyl Ester Market Outlook, By Liquid Vinyl Esters (2022-2030) ($MN)    
8 Global Vinyl Ester Market Outlook, By Solid Vinyl Esters (2022-2030) ($MN)    
9 Global Vinyl Ester Market Outlook, By Other Forms (2022-2030) ($MN)     
10 Global Vinyl Ester Market Outlook, By Distribution Channel (2022-2030) ($MN)    
11 Global Vinyl Ester Market Outlook, By Direct Sales (2022-2030) ($MN)     
12 Global Vinyl Ester Market Outlook, By Distributors (2022-2030) ($MN)     
13 Global Vinyl Ester Market Outlook, By Online Sales (2022-2030) ($MN)     
14 Global Vinyl Ester Market Outlook, By Other Distribution Channels (2022-2030) ($MN)   
15 Global Vinyl Ester Market Outlook, By Application (2022-2030) ($MN)     
16 Global Vinyl Ester Market Outlook, By Composites (2022-2030) ($MN)     
17 Global Vinyl Ester Market Outlook, By Coatings (2022-2030) ($MN)     
18 Global Vinyl Ester Market Outlook, By Adhesives and Sealants (2022-2030) ($MN)    
19 Global Vinyl Ester Market Outlook, By Unsaturated Polyester Resins (2022-2030) ($MN)   
20 Global Vinyl Ester Market Outlook, By Other Applications (2022-2030) ($MN)    
21 Global Vinyl Ester Market Outlook, By End User (2022-2030) ($MN)     
22 Global Vinyl Ester Market Outlook, By Construction (2022-2030) ($MN)     
23 Global Vinyl Ester Market Outlook, By Automotive (2022-2030) ($MN)     
24 Global Vinyl Ester Market Outlook, By Marine (2022-2030) ($MN)     
25 Global Vinyl Ester Market Outlook, By Aerospace (2022-2030) ($MN)     
26 Global Vinyl Ester Market Outlook, By Wind Energy (2022-2030) ($MN)     
27 Global Vinyl Ester Market Outlook, By Electrical & Electronics (2022-2030) ($MN)    
28 Global Vinyl Ester Market Outlook, By Consumer Goods (2022-2030) ($MN)    
29 Global Vinyl Ester Market Outlook, By Other End Users (2022-2030) ($MN)    
            
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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